Kellanova (NYSE:K) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Kellanova (NYSE:K - Free Report) by 10.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,157 shares of the company's stock after selling 23,600 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Kellanova worth $17,204,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. acquired a new position in Kellanova during the 2nd quarter worth $29,000. CVA Family Office LLC increased its holdings in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after buying an additional 200 shares during the period. Finally, MCF Advisors LLC grew its position in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the sale, the insider now directly owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares of the company's stock, valued at approximately $4,012,219,308.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,150,064 shares of company stock worth $92,680,265 in the last three months. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Up 0.1 %

Shares of K traded up $0.11 on Wednesday, hitting $80.97. 3,799,951 shares of the stock traded hands, compared to its average volume of 3,074,672. Kellanova has a 1 year low of $50.81 and a 1 year high of $81.26. The stock's 50 day moving average is $80.64 and its two-hundred day moving average is $68.70. The firm has a market capitalization of $27.91 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.56 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $1.03 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova's dividend payout ratio is presently 78.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on K shares. StockNews.com started coverage on Kellanova in a report on Monday. They issued a "hold" rating on the stock. The Goldman Sachs Group assumed coverage on Kellanova in a report on Monday, August 12th. They issued a "neutral" rating and a $75.00 target price for the company. Bank of America upgraded shares of Kellanova from a "neutral" rating to a "buy" rating and upped their price target for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. BNP Paribas downgraded Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Finally, Argus cut Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Sixteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $74.96.

Kellanova Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.